From wearechange
Thursday, October 3, 2013
Luke Rudkowski Talks to Piers Morgan about Conspiracies
No wonder the US masses watch Piers Morgan, as he, like them refuses to think critically.
From wearechange
From wearechange
Dutch Pension Fund wins the right to invest in Physical Gold
From de Rechtspraak
Article link
Translated by google translate
The Hague, 10-9-2013
The Board of Trade and Industry (Tribunal) made on September 10, 2013 ruling on a designation of De Nederlandsche Bank (DNB) to the Pension Fund Vereenigde Glasfabrieken (Pension Fund).
The Pension Fund in October 2009 interest in physical gold extended 12% of the total investment portfolio. DNB saw this as a violation of the prudent person rule in Article 135 of the Pensions (Pw) and instructed the Pension Fund to invest only between 1 and 3% in gold.
The court of appeal has upheld the Pension Fund and the decision of DNB was revoked.
On appeal, the Tribunal confirms the decision of the court. The court is of the opinion that the Board of DNB wrongly determined that the Fund acted by choosing the investment in gold, contrary to the prudent-person rule. Pension funds have a certain space to their investment in such a way that the open standard of Article 135 Pw are met. DNB in this case has not demonstrated that the Fund has made, with the security, quality, liquidity and profitability of the portfolio as it was not secured. Entirely a choice
The Rotterdam District Court will consider the request for compensation. Submitted by the Pension Fund.
Article link
Translated by google translate
The Hague, 10-9-2013
The Board of Trade and Industry (Tribunal) made on September 10, 2013 ruling on a designation of De Nederlandsche Bank (DNB) to the Pension Fund Vereenigde Glasfabrieken (Pension Fund).
The Pension Fund in October 2009 interest in physical gold extended 12% of the total investment portfolio. DNB saw this as a violation of the prudent person rule in Article 135 of the Pensions (Pw) and instructed the Pension Fund to invest only between 1 and 3% in gold.
The court of appeal has upheld the Pension Fund and the decision of DNB was revoked.
On appeal, the Tribunal confirms the decision of the court. The court is of the opinion that the Board of DNB wrongly determined that the Fund acted by choosing the investment in gold, contrary to the prudent-person rule. Pension funds have a certain space to their investment in such a way that the open standard of Article 135 Pw are met. DNB in this case has not demonstrated that the Fund has made, with the security, quality, liquidity and profitability of the portfolio as it was not secured. Entirely a choice
The Rotterdam District Court will consider the request for compensation. Submitted by the Pension Fund.
Four Horsemen - A film which lifts the lid on how the world really works
From RenegadeEconomist
Published on Sep 13, 2013
FOUR HORSEMEN is an independent feature documentary which lifts the lid on how the world really works.
As we will never return to 'business as usual' 23 international thinkers, government advisors and Wall Street money-men break their silence and explain how to establish a moral and just society.
FOUR HORSEMEN is free from mainstream media propaganda -- the film doesn't bash bankers, criticise politicians or get involved in conspiracy theories. It ignites the debate about how to usher a new economic paradigm into the world which would dramatically improve the quality of life for billions.
"It's Inside Job with bells on, and a frequently compelling thesis thanks to Ashcroft's crack team of talking heads -- economists, whistleblowers and Noam Chomsky, all talking with candour and clarity." - Total Film
Published on Sep 13, 2013
FOUR HORSEMEN is an independent feature documentary which lifts the lid on how the world really works.
As we will never return to 'business as usual' 23 international thinkers, government advisors and Wall Street money-men break their silence and explain how to establish a moral and just society.
FOUR HORSEMEN is free from mainstream media propaganda -- the film doesn't bash bankers, criticise politicians or get involved in conspiracy theories. It ignites the debate about how to usher a new economic paradigm into the world which would dramatically improve the quality of life for billions.
"It's Inside Job with bells on, and a frequently compelling thesis thanks to Ashcroft's crack team of talking heads -- economists, whistleblowers and Noam Chomsky, all talking with candour and clarity." - Total Film
Obama meets big banks over debt ceiling
From RTAmerica
Published on Oct 2, 2013
As the government shutdown continues, the clock is ticking to the next big deadline. On October 17th, the U.S. is set to hit the debt ceiling. President Obama is scheduled to meet with JP Morgan CEO Jamie Dimon and other bank executives over the crisis. The meeting comes as JP Morgan faces the possibility of an $11 billion dollar fine from the government.
Published on Oct 2, 2013
As the government shutdown continues, the clock is ticking to the next big deadline. On October 17th, the U.S. is set to hit the debt ceiling. President Obama is scheduled to meet with JP Morgan CEO Jamie Dimon and other bank executives over the crisis. The meeting comes as JP Morgan faces the possibility of an $11 billion dollar fine from the government.
Quote of the Week
“Not only does (gold) have the vital characteristic of allowing diversification, in particular when financial markets are highly integrated, in addition, it is unique among assets in that it is not issued by any government or central bank, so it’s value cannot be influenced by political decisions or by the solvency of any institution. These features, coupled with historic and psychological reasons, stand in favour of gold’s importance as a component of central bank reserves.” ~ Salvatore Rossi, director general of the Italian Central Bank
Chris Powell - Fighting for a fair game in the gold market
Wed 02 Oct 13
Chris Powell, Secretary & Treasurer, Gold Anti-Trust Action Committee talks about why he thinks western central banks are rigging the price of gold.
Chris Powell will be a keynote speaker at the 6th annual Gold Investment Symposium in Sydney, 16-17 October 2013. For more information visit http://symposium.net.au/gold
Chris Powell will be a keynote speaker at the 6th annual Gold Investment Symposium in Sydney, 16-17 October 2013. For more information visit http://symposium.net.au/gold
Max Keiser and Alex Jones on Syria
From TheAlexJonesChannel
Published on Oct 1, 2013
Alex welcomes Max Keiser to the program to discuss the growing fears of a mass economic collapse as well as the international dangers growing across the globe with terrorist threats in the wake of the disarmament of Syria.
Max also discusses George Galloway's film "The Killing of Tony Blair" which you can help fund here
Published on Oct 1, 2013
Alex welcomes Max Keiser to the program to discuss the growing fears of a mass economic collapse as well as the international dangers growing across the globe with terrorist threats in the wake of the disarmament of Syria.
Max also discusses George Galloway's film "The Killing of Tony Blair" which you can help fund here
Paul Craig Roberts - The Real Crisis Is Not The Government Shutdown
By Paul Craig Roberts
The inability of the media and politicians to focus on the real issues never ceases to amaze.
The real crisis is not the “debt ceiling crisis.” The government shutdown is merely a result of the Republicans using the debt limit ceiling to attempt to block the implementation of Obamacare. If the shutdown persists and becomes a problem, Obama has enough power under the various “war on terror” rulings to declare a national emergency and raise the debt ceiling by executive order. An executive branch that has the power to inter citizens indefinitely and to murder them without due process of law, can certainly set aside a ceiling on debt that jeopardizes the government.
The real crisis is that jobs offshoring by US corporations has permanently lowered US tax revenues by shifting what would have been consumer income, US GDP, and tax base to China, India, and other countries where wages and the cost of living are relatively low. On the spending side, twelve years of wars have inflated annual expenditures. The consequence is a wide deficit gap between revenues and expenditures.
Under the present circumstances, the deficit is too large to be closed. The Federal Reserve covers the deficit by printing $1,000 billion annually with which to purchase Treasury debt and mortgage-backed financial instruments. The use of the printing press on such a large scale undermines the US dollar’s role as reserve currency, the basis for US power. Raising the debt limit simply allows the real crisis to continue. More money will be printed with which to purchase more new debt issues needed to close the gap between revenues and expenditures.
The supply of dollars or dollar denominated assets in foreign hands is vast. (The Social Security system’s large surplus accumulated over a quarter century was borrowed by the Treasury and spent. In its place are non-marketable Treasury IOUs. Consequently, Social Security is one of the largest creditors to the US government.)
If foreigners lose confidence in the dollar, the drop in the dollar’s exchange value would mean high inflation and the Federal Reserve’s loss of control over interest rates. It is possible that a drop in the dollar’s exchange value could initiate hyperinflation in the US.
The real crisis is the absence of intelligence among economists and policymakers who told us for 20 years not to worry about the offshoring of US jobs, because we were going to have a “New Economy” with better jobs.
As I report each month, not a single one of these “New Economy” jobs has appeared in the payroll jobs statistics or in the Labor Department’s projections of future jobs. Economists and policymakers simply gave away a good chunk of the US economy in order to enhance corporate profits. One result has been to create in the US the worst distribution of income of all developed countries and of many undeveloped ones.
In the scheme of things, the enhanced profits are a short-run thing, because by halting the growth in consumer income, jobs offshoring has destroyed the US consumer market. As I noted in a recent column, on September 19 the New York Times reported what I have reported for years: that US median family income has not increased for a quarter of a century. The lack of consumer income growth is why 5 years of massive monetary and fiscal stimulus have not brought economic recovery.
The real crisis cannot be addressed unless the jobs are brought back home and the wars are stopped. As powerful organized interests oppose any such measures, Congress will pass a new debt ceiling and the real crisis will continue.
Do you hear any mention of the real crisis in the media? Today I was on an international TV program for 25 minutes with the chief financial editor of one of England’s major newspapers. Little doubt but that he was a good-hearted and intelligent fellow, but he had no capability of thinking outside the box. He was unable to comprehend my explanations, and resorted to regurgitations of the media’s ignorance or subservience to Washington’s propaganda.
Among his regurgitations was the “solution” of cutting Social Security. The chief financial editor of a major UK newspaper did not know that for the past quarter of a century Social Security revenues exceeded Social Security payments, and that the Treasury spent the surplus to fund the annual operating expenses of the government, issuing non-marketable IOUs to the Social Security Trust Funds.
The chief financial editor also did not comprehend that cutting Social Security payments also cuts consumer spending or aggregate demand, and sends the economy down further, thus magnifying the deficit/debt problem.
Because of the serious decline in the US economy caused by jobs offshoring and financial deregulation, Social Security no longer adds to its surplus. Social Security payments need the supplement to the annual payroll revenues of repayments by the Treasury of the borrowed funds.
The only reasons that Social Security is in trouble is that jobs offshoring and wars have constrained the US Treasury’s ability to make good on its debts except by having the Federal Reserve print money. Every job that is sent abroad does not contribute payroll taxes to Social Security and Medicare.
Insouciant American economists say that manufacturing is an outmoded source of employment, but Chinese manufacturing employment is almost equal to the total US labor force in all occupations, including waitresses and bartenders and hospital orderlies. China’s economy is growing at a rate of 7.5% in real terms, while Western economies cannot move forward and some are regressing.
In order to appease Wall Street, the most corrupt institution in human history, and to prevent Wall Street-financed takeovers of their corporations, executives destroyed the American consumer market by offshoring American incomes in order to enhance profits by substituting cheap foreign labor for US labor.
In my opinion, the US economy is not salvageable in its present form. The economy is running out of water resources. The supply that remains is being decimated by fracking. The soil is depleted by glysophate, a requirement of GMO agriculture. The external costs of production are rising (the costs that the corporations impose on the environment and third parties) and possibly exceed the value of the increase in corporate output. Economists are incapable of independent thought, and elected representatives are dependent on the private interests that finance their campaigns.
It is difficult to imagine a more discouraging situation.
At this time, collapse seems the most likely forecast.
Perhaps out of the ruins, a new, intelligent beginning might occur.
If there are any leaders.
The inability of the media and politicians to focus on the real issues never ceases to amaze.
The real crisis is not the “debt ceiling crisis.” The government shutdown is merely a result of the Republicans using the debt limit ceiling to attempt to block the implementation of Obamacare. If the shutdown persists and becomes a problem, Obama has enough power under the various “war on terror” rulings to declare a national emergency and raise the debt ceiling by executive order. An executive branch that has the power to inter citizens indefinitely and to murder them without due process of law, can certainly set aside a ceiling on debt that jeopardizes the government.
The real crisis is that jobs offshoring by US corporations has permanently lowered US tax revenues by shifting what would have been consumer income, US GDP, and tax base to China, India, and other countries where wages and the cost of living are relatively low. On the spending side, twelve years of wars have inflated annual expenditures. The consequence is a wide deficit gap between revenues and expenditures.
Under the present circumstances, the deficit is too large to be closed. The Federal Reserve covers the deficit by printing $1,000 billion annually with which to purchase Treasury debt and mortgage-backed financial instruments. The use of the printing press on such a large scale undermines the US dollar’s role as reserve currency, the basis for US power. Raising the debt limit simply allows the real crisis to continue. More money will be printed with which to purchase more new debt issues needed to close the gap between revenues and expenditures.
The supply of dollars or dollar denominated assets in foreign hands is vast. (The Social Security system’s large surplus accumulated over a quarter century was borrowed by the Treasury and spent. In its place are non-marketable Treasury IOUs. Consequently, Social Security is one of the largest creditors to the US government.)
If foreigners lose confidence in the dollar, the drop in the dollar’s exchange value would mean high inflation and the Federal Reserve’s loss of control over interest rates. It is possible that a drop in the dollar’s exchange value could initiate hyperinflation in the US.
The real crisis is the absence of intelligence among economists and policymakers who told us for 20 years not to worry about the offshoring of US jobs, because we were going to have a “New Economy” with better jobs.
As I report each month, not a single one of these “New Economy” jobs has appeared in the payroll jobs statistics or in the Labor Department’s projections of future jobs. Economists and policymakers simply gave away a good chunk of the US economy in order to enhance corporate profits. One result has been to create in the US the worst distribution of income of all developed countries and of many undeveloped ones.
In the scheme of things, the enhanced profits are a short-run thing, because by halting the growth in consumer income, jobs offshoring has destroyed the US consumer market. As I noted in a recent column, on September 19 the New York Times reported what I have reported for years: that US median family income has not increased for a quarter of a century. The lack of consumer income growth is why 5 years of massive monetary and fiscal stimulus have not brought economic recovery.
The real crisis cannot be addressed unless the jobs are brought back home and the wars are stopped. As powerful organized interests oppose any such measures, Congress will pass a new debt ceiling and the real crisis will continue.
Do you hear any mention of the real crisis in the media? Today I was on an international TV program for 25 minutes with the chief financial editor of one of England’s major newspapers. Little doubt but that he was a good-hearted and intelligent fellow, but he had no capability of thinking outside the box. He was unable to comprehend my explanations, and resorted to regurgitations of the media’s ignorance or subservience to Washington’s propaganda.
Among his regurgitations was the “solution” of cutting Social Security. The chief financial editor of a major UK newspaper did not know that for the past quarter of a century Social Security revenues exceeded Social Security payments, and that the Treasury spent the surplus to fund the annual operating expenses of the government, issuing non-marketable IOUs to the Social Security Trust Funds.
The chief financial editor also did not comprehend that cutting Social Security payments also cuts consumer spending or aggregate demand, and sends the economy down further, thus magnifying the deficit/debt problem.
Because of the serious decline in the US economy caused by jobs offshoring and financial deregulation, Social Security no longer adds to its surplus. Social Security payments need the supplement to the annual payroll revenues of repayments by the Treasury of the borrowed funds.
The only reasons that Social Security is in trouble is that jobs offshoring and wars have constrained the US Treasury’s ability to make good on its debts except by having the Federal Reserve print money. Every job that is sent abroad does not contribute payroll taxes to Social Security and Medicare.
Insouciant American economists say that manufacturing is an outmoded source of employment, but Chinese manufacturing employment is almost equal to the total US labor force in all occupations, including waitresses and bartenders and hospital orderlies. China’s economy is growing at a rate of 7.5% in real terms, while Western economies cannot move forward and some are regressing.
In order to appease Wall Street, the most corrupt institution in human history, and to prevent Wall Street-financed takeovers of their corporations, executives destroyed the American consumer market by offshoring American incomes in order to enhance profits by substituting cheap foreign labor for US labor.
In my opinion, the US economy is not salvageable in its present form. The economy is running out of water resources. The supply that remains is being decimated by fracking. The soil is depleted by glysophate, a requirement of GMO agriculture. The external costs of production are rising (the costs that the corporations impose on the environment and third parties) and possibly exceed the value of the increase in corporate output. Economists are incapable of independent thought, and elected representatives are dependent on the private interests that finance their campaigns.
It is difficult to imagine a more discouraging situation.
At this time, collapse seems the most likely forecast.
Perhaps out of the ruins, a new, intelligent beginning might occur.
If there are any leaders.
Max Keiser - America one giant hedge fund & world's greatest soap opera
From RT
Published on Oct 2, 2013
Washington's struggle to govern itself has already cost the American economy hundreds of millions of dollars on the first day of the government shutdown. And things are likely to get even more expensive, with neither Republican nor Democrat lawmakers willing to back down from their stance on Barack Obama's signature health care bill.
Max Keiser gives his comment on the government shutdown.
Published on Oct 2, 2013
Washington's struggle to govern itself has already cost the American economy hundreds of millions of dollars on the first day of the government shutdown. And things are likely to get even more expensive, with neither Republican nor Democrat lawmakers willing to back down from their stance on Barack Obama's signature health care bill.
Max Keiser gives his comment on the government shutdown.
Protests seek to halt Romanian gold and silver mining project
From globalpost.com
Article link
BUCHAREST, Romania — Some 15,000 people filled the streets of Bucharest in recent days to protest a draft law passed by the government designed to approve Europe's largest gold mining project in Rosia Montana, a small town in northern Romania.
The huge mobilization came after two weeks of continued protests against what some have called a defiance of constitutional and environmental norms in favor of the Canadian-owned Rosia Montana Gold Corporation.
Protesters came from several Romanian cities and major capitals around the world. They demonstrated not only against the mining project, but also against the ruling class and the Romanian political system.
They contend that the mine's liberal use of cyanide and heavy metals such as mercury will create a major environmental risk. Protesters also accused authorities of trying to sell off Romania’s assets too cheaply.
Local miners blockaded themselves 300 meters below ground and threatened to go on a hunger strike over fears jobs would be lost if plans for the gold mine do not go ahead.
Prime Minister Victor Ponta finally met with the strikers and persuaded them to end their protest, promising he would send a parliamentary committee to the area.
The exploration project intends to extract approximately 300 tons of gold and 1,600 tons of silver by excavating four mountain peaks. It has been held up since 1997, waiting to receive an environmental permit.
Read in full
Article link
BUCHAREST, Romania — Some 15,000 people filled the streets of Bucharest in recent days to protest a draft law passed by the government designed to approve Europe's largest gold mining project in Rosia Montana, a small town in northern Romania.
The huge mobilization came after two weeks of continued protests against what some have called a defiance of constitutional and environmental norms in favor of the Canadian-owned Rosia Montana Gold Corporation.
Protesters came from several Romanian cities and major capitals around the world. They demonstrated not only against the mining project, but also against the ruling class and the Romanian political system.
They contend that the mine's liberal use of cyanide and heavy metals such as mercury will create a major environmental risk. Protesters also accused authorities of trying to sell off Romania’s assets too cheaply.
Local miners blockaded themselves 300 meters below ground and threatened to go on a hunger strike over fears jobs would be lost if plans for the gold mine do not go ahead.
Prime Minister Victor Ponta finally met with the strikers and persuaded them to end their protest, promising he would send a parliamentary committee to the area.
The exploration project intends to extract approximately 300 tons of gold and 1,600 tons of silver by excavating four mountain peaks. It has been held up since 1997, waiting to receive an environmental permit.
Read in full
A Silver Lining in the US Govt. Shutdown
Along with demonstrating to the US people that almost all US Federal employees are not "essential" and that life goes on without their "work", the other silver lining in the US government shutdown is that the NSA can't spy on us as much as they really want. Watch the following video of James Clapper and Dianne Feinstein ringing their hands over not being able to read all your emails or listen to your phone calls in real time.
From AssociatedPress
From AssociatedPress
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